The biggest challenge facing the hospitality industry over the next 5 years is the lack of integration between the key commercial disciplines of sales, revenue, distribution and finance and the negative impact this will continue to have on delivering asset value and maximum profitability.
This course, spread over 4 key modules:
Asset Management
Demand Generation
Digital Marketing
Demand Optimisation
aims to break down these commercial silos and reveal the journey from long-term asset development through to short-term profit tactics and how commercial teams can align themselves throughout the organisation.
Created by SnapShot, this course is hosted by a group of experienced Industry guest lecturers in their fields of expertise and includes an ideal mix of accessible theory and practical exercises and simulations.
SnapShot is a Hotel Demand Management company that specializes in helping hotels aggregate and use their data. We provide useful tools as well as innovative education and coaching services to empower hotels to take informed decisions in managing their demand to increase profits.

CR

Absolutely brilliant course with a variety of speakers from different backgrounds - loved it!

SR

Feb 19, 2019

Filled StarFilled StarFilled StarFilled StarFilled Star

This was fun and educational Thank you so much for putting this together

From the lesson

Revenue Management

In this module, we will look at what problems Revenue Management was invented to help hotels and other similar business overcome. Then we will go through each of the critical six steps of the Revenue Management Cycle answering such questions along the way as: Where do I get the data I need from? What do I do with the data once I have it? How can I predict what is going to happen in the future? What kind of forecasting method can I use? What decisions do I need to make to get the most revenue and profit?

Taught By

Peter O'Connor

Professor of information systems, Director of the MBA in Hospitality Management

Alex Slors

Independent Hotel Asset Manager & Development Consultant

David Turnbull

Co-Founder and CCO

Brendan May

COO Livabout

Martin Soler

Independent Marketing Consultant

Lennert De Jong

Commercial Director

Transcript

[MUSIC] The first time I was in Yablanitsa, it didn't look quite as nice as it did in this picture, at least to me. For one thing, it was dark. As I came to the top of this hill, I was still hoping I could catch the 11:30 ferry to the Island of Rob, where I had an early meeting the next morning. That is until I saw the 11:30 ferry departing, I thought well I'll just have to wait another half hour until the midnight ferry. But, at least I made it. You see I had a small disagreement with my GPS navigator which ended up in an eight hour drive which should've taken actually only about three hours. Even after over a decade living in Europe the Canadian in me still has serious problems getting used to anything other than straight ahead, left, and right. I don't think I will ever quite get used to these half rights, half lefts, and well, whatever, you know what I mean. As I pulled up to the little booth that you see there on the left side of the road, the Croatian gentleman just shook his head and said you just missed the last ferry. I said what about the one at midnight? To which he answered sorry, it was cancelled due to high winds. Well, now I was in trouble. The last hotel I had seen was at least an hour back the way I came. The hotel where I had a reservation was on the island, and I wasn't getting there tonight. As I came around the corner, I was wondering what I was going to do. I saw this nice little hotel. As I walked through the door I was thinking, dressed in a suit, at the beginning of the high season this hotel shouldn't be more than say about 100 euros. I had by this point helped quite a number of hotels in Croatia improve their revenue management, so I did have a fairly good idea of the going prices in the region. But I was thinking, if this hotel is going to be more than 200e, I'm gonna have some pretty serious explaining to do to my boss when he sees my expense report. Especially since he knew about that complimentary room on the island. The owner greeted me with, so you missed the last ferry, huh? Yep. It's just me. The she started apologizing that she only had double rooms available. And I was thinking, yes. A little room type optimization. Awesome. And then she told me the price. I seem to have gone off on a bit of a tangent. Hi, my name is Brendon, and I'm the VP of Strategy at Snapshot. And I have been asked today to guide you through the revenue management component of demand management. In this module, we will look at what problems revenue management was invented to help hotels and other similar businesses overcome. In other words, why was revenue management invented in the first place? Then we go through each of the critical six steps of the revenue management cycle. Answering such questions along the way such as where do I get the data I need from? What do I do with the data once I have it? How can I predict what is going to happen in the future? And yes, we will teach you at least one mathematical forecasting method. But don't get too concerned, although it is extremely powerful, it's actually quite simple and it is rather intuitive. And finally what decisions do I need to make to get the most revenue and profit?

Explore our Catalog

Join for free and get personalized recommendations, updates and offers.